Melody Stevens Realty, Real Estate Guides
Buying a property
One of the early steps in buying a home is to realize that there are so many resources available to you. Your number one resource is a Realtor who can point you to any and all other resources that will make your home buying experience a pleasant one.
As a general rule, you should be able to use this checklist in order to prepare yourself to be a homeowner while understanding there are minimal costs involved to LOOK for a home. Often we find young or first time buyers have an inaccurate idea of the home buying process. Therefore, they postpone decisions based on what they "think" they know. Please review our checklist and if necessary, use the contact information at the lower left to reach us anytime. The consultation is free.
Things you need to do to prepare yourself as a buyer.
1. Maintain Good Credit.
As in any financial situation, home buying hinges greatly on your credit rating. It is EXTREMELY important that you protect your credit rating as if it were your child. This means that if you are in a dispute with a creditor over anything, resolve it quickly. Be fair to yourself, but do not withhold payments because you are in disagreement with the creditor. Credit damage is hard to undo, even if it was a mistake on the part of the creditor.
2. Maintain continuous and detailed work history.
There is a misconception that if you have not worked at ONE location for more than two years you cannot qualify to buy a home. This is simply not true. There are dozens of variables in how a person’s work history can be viewed. Any other buyer can be self employed, in the process of switching jobs or have just switched jobs. Ask your Realtor to get you in touch with a reputable Loan officer to discover what you may not know about how your work history affects home buying.
3. Take the time to pre-qualify.
Pre-qualifying for a loan does not guarantee you will get one. Basically, it means you sat down with a loan officer and discussed your finances, work history and ability to purchase a home. Based upon how truthful you are to the loan officer, they will "Pre-Qualify" you for a certain loan amount. Many loan officers will pre-qualify you at no cost, in hopes that you return the favor by using their services for a loan when the time comes to make a purchase. So, as you can see, you can trust the loan officer, because just like a Realtor, they only make their money when you buy. At this point, you may begin shopping for a home.
The prequalification step is an important one to your Realtor as well. It insures them that you are serious about buying a home and are not interested in wasting their time without knowing your abilities to perform. Realtors value their time just as you do yours.
A very serious home buyer may even consider moving so far ahead as to be pre-authorized for a loan in addition to being pre-qualified. To find out more, ask your Realtor.
4. Commit yourself to a Realtor - At this point, hopefully you are already committed to a Realtor who has referred you to a reputable loan officer. They really do know best in this regard as they work with loan officers and bank agents as a profession. They base their knowledge on experience and in a sea of loan officers and cut rate programs, it is experience that counts. What does it take to commit to a Realtor? Tell them simply, "we want you to be our Realtor".